The caretaker government is expected to raise the prices of petrol and diesel in the upcoming bi-weekly review on January 31 for the first half of February.
According to reports, the hike is a result of the growing international rates, driven by increased tensions in the Middle East due to Houthi rebels' attacks on cargo ships associated with the US and Israel. The government updates petroleum prices every two weeks based on suggestions from the Oil and Gas Regulatory Authority (OGRA).
Expected Increase in Petrol and Diesel Price
The regulatory authority is likely to raise the prices of petrol and diesel by Rs7 per liter each on January 31, following consecutive reductions in the past few months. The updated prices will be applicable from February 1 to February 15.
Expected New Petrol, Diesel Price in Pakistan
At present, the cost of one liter of petrol is Rs259.34, and high-speed diesel is priced at Rs276.21 per liter in Pakistan. If the government gives the go-ahead for a Rs7 per liter hike in both petrol and diesel prices, the revised rates would be Rs266.34 per liter for petrol and Rs283.21 per liter for diesel.
